RUMOR MILL
Morissette should make a cool million on the sale.
Monday, May 15, 2000
ALANIS SELLS MP3.COM STOCK
Superstar's Decision Does Not Cause Market Crash
"Well, my broker's Alanis Morissette, and Alanis says…"
Alanis is finally getting paid for her 1999 summer tour with Tori Amos, cashing in 100,000 of her 329,328 MP3.com shares. As part of a consulting deal with Morrisette's management company, Atlas/Third Rail, MP3.com sponsored the tour and the singer was able to pick up the stock at 33 cents a share. She bought the stock dirt cheap in April of last year.
Morissette should make a cool million on the sale—and that's in American dollars, not that crazy Canadian money.
The singer's move follows the sale by her manager, Scott Welch, of 212,366 shares of the stock on May 1 at $7 per share. That transaction earned Welch an estimated $1,486,562.
MP3.com closed at 12-7/8 on Monday.
